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Providers are looking for long-term impacts and are optimistic that outsourcing their revenue cycle services is going to deliver just that
OREM, UT, January 16, 2014 /24-7PressRelease/ -- Healthcare providers are outsourcing revenue cycle services at unprecedented levels according to the new KLAS report Revenue Cycle Outsourcing: Tools, Expertise, and Resources Key to Improved Collections. In a complex environment, the need for improved collections, greater efficiency, and better accuracy is the guiding factor in providers' revenue cycle strategies.
With large IDNs like Catholic Health Initiatives, LifePoint Hospitals and Catholic Health Partners signing deals, the energy in revenue cycle outsourcing/managed services is at an all-time high. Additionally, providers are overwhelmingly reporting positive experiences and outcomes with their revenue cycle vendors.
This market segment has seen tremendous growth, resulting in over 38 organizations encompassing 460 total hospitals currently using revenue cycle outsourcing. KLAS spoke with the majority of these organizations in order to differentiate the vendors and highlight their strengths and weaknesses. While most providers report positive feedback about their vendors, technology proves to be the critical differentiator in performance ratings.
"Providers are continuously being asked to do more with less," said Erik Westerlind, report author and research director at KLAS. "Revenue cycle outsourcing is an area where that is possible. Providers are looking for long-term impacts and are optimistic that outsourcing their revenue cycle services is going to deliver just that."
The vendors discussed in this report include Accretive Health, Cerner, Conifer Health Solutions, Cymetrix, Medassets and Parallon Business Solutions. For more information about this study, check out the full report, Revenue Cycle Outsourcing: Tools, Expertise, and Resources Key to Improved Collections. Visit www.KLASresearch.com/KLASreports.
KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and to be counted. Working with thousands of healthcare executives and clinicians, KLAS gathers data on software, services, medical equipment and infrastructure systems to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. KLAS was founded in 1996, and KLAS' staff and advisory board members average 25 years of healthcare information technology experience. For more information, go to www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative. Follow KLAS on Twitter https://twitter.com/klasresearch
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